Peso ends flat at P52.10:$1

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The peso traded flat against the dollar on Thursday, Feb. 22, following the hawkish minutes of the January meeting of the US Federal Reserve (Fed).

The local currency ended yesterday’s session at P52.10 against the greenback, trading flat from its finish on Wednesday.

The peso opened the session at P52.13 versus the dollar, while its best showing stood at P52.03. Yesterday’s intraday low, on the other hand, was at P52.17 against the greenback.

Dollars traded slipped to $668.4 million yesterday from the $965.95 million that changed hands in the previous session.

“The peso closed sideways [yesterday], though intraday rates were generally weaker following hawkish cues due to strong US economic growth outlook from the recently-released Fed policy meeting minutes,” a trader told BusinessWorld in an e-mail on Thursday. — Karl Angelo N. Vidal